They have paid $5.8M so far in ongoing leagal costs, but now they were unsuccessful they are looking at a "significant adverse cost order", see below
'The parties will make submissions on costs (on a date to be set) which are reserved to a final award on costs. Phosphagenics has spent approximately $5.6m on arbitration and legal fees to date. The Board must take into account a significant adverse costs order.
As shareholders will recognize, this arbitration loss has a serious impact on the company and the Board will need to carefully consider the alternative courses of action available to it. '
drifta
POH Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
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